Registry entry UseWUServer

My Windows XP PC is on a domain.

In the Registry setting HKEY_LOCAL_MACHINE \ SOFTWARE \ Policies \ Microsoft
\ Windows \ WindowsUpdate

I have
WUServer REG_SZ http://CompanyWSUSServer.com
WUStatusServer REG_SZ http://CompanyWSUSServer.com

The server is no longer in use. I want the PC to communicate with actual
Microsoft Windows Update server. If I go one deeper
HKEY_LOCAL_MACHINE \ SOFTWARE \ Policies \ Microsoft \ Windows \
WindowsUpdate \ AU
there is an option of UseWUServer REG_DWORD 0x00000001 (1)

If I set UseWUServer to 0 will it ignore the intranet server and automaticly
go to the windows update server provided by Microsoft?